Last checked at 16 Jul 2009 07:00
Tarek Tantawy to remain CFO of Telecom Egypt
Cairo, 16 July 2009: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN) today announced that Tarek Tantawy, TE's Vice President & Chief Financial Officer, has withdrawn his resignation announced on 16 June 2009 and will remain in his current position.
Commenting on the news, Mr. Akil Beshir Chairman & CEO of Telecom Egypt said:
"During the course of his time at Telecom Egypt, Tarek has made a significant contribution to the development of the company. His grasp of the business and considered counsel will be invaluable in navigating the challenges and the opportunities we have ahead. I am personally delighted that he has decided to remain with us."
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Notes to editors
| Ahmed Fathallah | Mohamed Kamal |
| Director of Investment & IR | Internal Reporting & Investor Relations Manager |
| Tel: +202 3131 6699 | Tel: +202 3131 5219 |
| Fax: +202 3131 6115 | Fax: +202 3131 6115 |
E-mail: investor.relations@telecomegypt.com.eg
About Telecom Egypt
Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 11.6 million subscribers as at 31 March 2009.
TE provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
TE currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators. TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Egyptian Stock Exchange and the London Stock Exchange.